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View Full Version : How do you journalize sold 4,500 units on account for $.90 per unit.


cristy3091
Jan 30, 2011, 09:21 PM
I need to journalize and post these transactions but I'm very confused

pready
Jan 31, 2011, 09:07 AM
First you need to calculate the amount of sales, which is: 4,500 units times the sale price of $0.90 per unit.

Next you need to journalize the sale, which is:
Debit Accounts Receivable for the amount calculated above, because you sold the item on account
Credit Sales Revenue for the amount calculated above